** Shares of U.S.-based utility PG&E Corp PCG.N fall 1.3% to $17.32 premarket

** Company posts Q1 adjusted profit of 33 cents per share vs est. of 34 cents per share - data compiled by LSEG

** PCG says average residential electric rates were lower in March than they were a year earlier

** Expects to construct nearly 700 miles of underground powerlines and 500 miles of other wildfire safety system upgrades between 2025 and 2026

** Company reported Q1 total operating revenue of $5.98 billion vs est. of $6.14 billion

** Up till last close, stock down 12.3% YTD

(Reporting by Pooja Menon in Bengaluru)

((Pooja.Menon@thomsonreuters.com;))